Press Release

AVEO Pharmaceuticals to Present at the Cowen and Company 29th Annual Health Care Conference

CAMBRIDGE, Mass., March 11, 2009 – AVEO Pharmaceuticals, Inc. today announced that Tuan Ha-Ngoc, president and chief executive officer, is scheduled to present at the Cowen and Company 29th Annual Health Care Conference on Wednesday, March 18, 2009 at 9:30 a.m. EDT at the Boston Marriott Copley Place in Boston, Mass.

About AVEO

AVEO is a late-stage biopharmaceutical company focused on the discovery and development of novel, targeted cancer therapeutics. AVEO’s proprietary, integrated cancer biology platform enables the company to pursue highly efficient drug development strategies in oncology that increase the probability of clinical success and provides a discovery engine for high-value targets. This approach has resulted in a balanced pipeline of novel cancer therapies focused on well-validated targets (VEGFR, EGFR) and promising novel targets (HGF, FGFR), as well as collaborations with Eli Lilly, Merck, OSI Pharmaceuticals and Schering-Plough. The company’s lead product, AV-951, a potential best-in-class triple VEGF receptor inhibitor, is in a Phase 2 clinical trial in more than 270 patients with metastatic renal cell cancer and is expected to enter Phase 3 development in 2009. Through a combination of internal drug discovery and selective in-licensing of targeted therapeutics, AVEO is building a diversified product pipeline and moving toward its vision of becoming a fully integrated biopharmaceutical company. For more information, please visit the company's website at www.aveopharma.com.